Heritage Announces Preliminary Third Quarter 2020 Catastrophe and Weather Losses
Heritage Insurance Holdings (HRTG) reported an anticipated $24.5 million in net current accident quarter catastrophe losses for Q3 2020, mainly due to Hurricanes Isaias and Sally. Additionally, the company expects $22.8 million in non-catastrophe weather losses, a significant increase from $11.9 million in the same period last year, primarily attributed to wind and hail storms in Florida. Heritage operates as a super-regional property and casualty insurance provider, managing approximately $1 billion in gross premiums across multiple states.
- Heritage writes approximately $1 billion of gross personal and commercial residential premium annually.
- An expected $24.5 million in net catastrophe losses for Q3 2020 due to hurricanes.
- Projected $22.8 million in non-catastrophe weather losses, up from $11.9 million year-on-year.
CLEARWATER, Fla., Oct. 15, 2020 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that it expects to incur approximately
Additionally, the Company expects to incur approximately
Financial information, including material announcements about Heritage, is routinely posted on investors.heritagepci.com.
About Heritage
Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes approximately
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "or "continue" or the other negative variations thereof or comparable terminology are intended to identify forward-looking statements. The risks and uncertainties that could cause our actual results to differ from those expressed or implied herein include, the matters described from time to time by us in our filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission on March 10, 2020. The Company undertakes no obligations to update, change or revise any forward-looking statement, whether as a result of new information, additional or subsequent developments or otherwise.
Investor Contact:
Arash Soleimani, CFA, CPA
Executive Vice President
727.871.0206
asoleimani@heritagepci.com
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SOURCE Heritage Insurance Holdings, Inc.
FAQ
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